All Reports

Plexus (PLXS; $94.23; E/W) posted FQ1 (Dec) results in line with its recent negative pre-announcement (“Slow End to Quarter Leads to FQ1 Miss”; 1/17) as it fleshed out details behind the cut to prior sales,…

Seagate’s (STX; $89.17; E/W) FQ2 (Dec) results and outlook provided further confirmation for the idea that the company is now on a consistent recovery track, discussed below, per the expected improvement in key FQ2 metrics…

Amphenol (APH; $100.66; E/W) produced another Q4 “beat and meet”, albeit influenced by a surge in M&A during November and December as it acquired four companies with a combined ~$325mm in annual sales for $678mm….

We raise our rating on TE Connectivity (TEL; $143.63) from Equal-Weight to Outperform. We believe the stock is now breaking out of its trading range of the past two years on a path to new…

Seagate (STX; $89.17; E/W) reported FQ2 (Dec) non-GAAP EPS of a profit of $0.12, which comfortably beat our estimate of a ($0.03) loss and the Street’s ($0.06) on sales of $1,555mm (vs. our $1,582mm and…

Amphenol (APH; $101.25; E/W) reported Q4 non-GAAP EPS of $0.82, which beat our $0.76 and the Street’s $0.77 on sales of $3,328mm that were ahead of our $3,148mm and the Street’s $3,157mm. The company also…

TE Connectivity (TEL; $134.65; E/W) reported FQ1 (Dec) non-GAAP EPS of $1.84, which comfortably beat our $1.70 and the Street’s $1.71 despite some moderately lower than expected sales ($3,831mm vs. our $3,850mm and consensus of…

Last Friday (1/19), Ballard Power Systems (BLDP; $3.34; NR) announced it successfully used “large format” hydrogen fuel cells to supply backup power to a data center through a partnership with Caterpillar (CAT; $288.35; NR) and…

We think there are some positives worth focusing on amongst all the electric vehicle (EV) hand wringing of recent weeks. For example, recent updates from direct current fast charging (DCFC) network operators EVgo (EVGO; $2.72;…

We think a muted end to the December quarter, combined with ongoing uncertainty around the impact of high interest rates on capital spending-driven markets, and typical seasonal pressures to start the year suggests to us…

Over the past several days, Belden (BDC; $72.71; E/W) announced it expanded its existing manufacturing facility in Pune, India, as well as opened a new Customer Innovation Center (CIC) in Bengaluru, India, as per plan….

Yesterday (1/17), Corning (GLW; $30.22; E/W) announced that Samsung Electronics’ just introduced Galaxy S24 Ultra smartphone will feature GLW’s new Gorilla Armor cover glass. As per a press release from GLW, Gorilla Armor is the…

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of December, which was slightly below seasonal trends. Specifically, European vehicle registrations in December (~20% of global demand)…

We are bumping up our FQ2E (Dec) EPS for Seagate (STX; $83.33; E/W) from ($0.13) to ($0.03) to account for management commentary in recent weeks that suggested some better HDD shipments in the quarter (measured…

We are updating our financial model for Flex (FLEX; $22.13; O/P) to account for the recently completed divestiture of Nextracker (NXT; $41.89; E/W) on January 2nd (“NXT Spin Coming Much Sooner Than Expected”; 12/18/23). The…